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ronald reagan, six years during his tax reform we went from $600 billion to $1 trillion worth of revenue. that's a 67% increase. even george bush's tax cuts, in 2003, federal revenue was a little under $1.8 trillion. before the housing vote, $2.5 trillion. that's a 42% increase in revenue to the federal government. lowering marginal tax rates is incentivizing. >> i hear you on that. what people are taking exception to is without details, as a taxpayer, of what's on the table and what's off the table, it's a very easy way to throw out numbers without necessarily being having to be responsible for the math working out. i mean i thought martha raddatz did a very good job on this. she's sort of like you're not again going to give specifics. and chris wallace -- >> you are giving specifics as you're giving directions to congress. this is what ceos do. listen, as you design this, make sure that people making $200,000 will not have their tax burden lowered. but we're going to lower their marginal tax rate because that produces inseverives for them to create jobs. for people making less than $20
ronald reagan, six years during his tax reform we went from $600 billion to $1 trillion worth of revenue. that's a 67% increase. even george bush's tax cuts, in 2003, federal revenue was a little under $1.8 trillion. before the housing vote, $2.5 trillion. that's a 42% increase in revenue to the federal government. lowering marginal tax rates is incentivizing. >> i hear you on that. what people are taking exception to is without details, as a taxpayer, of what's on the table and what's...
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ronald reagan -- >> now you're jack kennedy. >> a battle of minds. congressman ryan and vice president widen go head to head in the first and only vice presidential decade. we dig into the facts and fiction ahead. >> malarkey complaining, laughless, shirtless, just a few of the top search items on google during last night's debate. we have more on the debate coming up this hour. >> shirtless. >> shirtless what, could be better than that. >> welcome back to "early start." >> it's friday, october 12th. there was plenty of passion and paul ryan and joe biden each got in a zinger or two but no knockout last nighin the vice presidential debate. nobody had a bad night and nobody was too polite, that's to be sure. joe biden was the aggressor and paul ryan looking like the calm, collected counterpuncher. >> and here's how america scored it. a cnn orc poll taken right after the debate showed 48% of the voters who watched thought ryan won and 44% favored pieden. that's a statistical tie. senior congressional correspondent dana bash is live from danville, kentu
ronald reagan -- >> now you're jack kennedy. >> a battle of minds. congressman ryan and vice president widen go head to head in the first and only vice presidential decade. we dig into the facts and fiction ahead. >> malarkey complaining, laughless, shirtless, just a few of the top search items on google during last night's debate. we have more on the debate coming up this hour. >> shirtless. >> shirtless what, could be better than that. >> welcome back to...
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Oct 13, 2012
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from harry truman to ronald reagan, now the carpenter's grandson is selling about a 1,000 hand me downs, they include a lighter, john f. kennedy's baby pin, and a wooden post from 1814 when the british set fire to the white house. some of the starting bids as high as $12,000. >>> thanks for joining us this morning. ,,,,,,,,
from harry truman to ronald reagan, now the carpenter's grandson is selling about a 1,000 hand me downs, they include a lighter, john f. kennedy's baby pin, and a wooden post from 1814 when the british set fire to the white house. some of the starting bids as high as $12,000. >>> thanks for joining us this morning. ,,,,,,,,
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ronald reagan. >> as for which candidate won the debate it seems to be a bit of a tossup with some polls giving a slight advantage to ryan. others to biden. a watch party of students turned out for this historic debate between two catholic vice presidential candidates. >> i am catholic and it's nice to hear them say they are practicing. but i think a lot of the policy they forget about their religion. >> even this campus only about 50 students showed up to watch the vice presidential debate. there were plenty of empty seats. >>> president obama watched the vice presidential debate on air force one as he was returning to washington from a campaign visit from florida. following the debate the president told reporters he thought joe biden was terrific and already called the vice president to congratulate him. mitt romney watched the debate at his hotel room in ashville, north carolina. the campaign spokesman said he called paul ryan immediately after the debate to congratulate him. on our website at ktvu.com we posted more video of last nights debate. look for the world and u.s. news tan ri
ronald reagan. >> as for which candidate won the debate it seems to be a bit of a tossup with some polls giving a slight advantage to ryan. others to biden. a watch party of students turned out for this historic debate between two catholic vice presidential candidates. >> i am catholic and it's nice to hear them say they are practicing. but i think a lot of the policy they forget about their religion. >> even this campus only about 50 students showed up to watch the vice...
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. >> robbed reagan. >> now you are jack kennedy. >> ronald reagan. >> plenty of heat. biden showed more emotion tonight and personality but i think who you believe won the debate? probably depend on your political point of view unless you include abc martha. she was clearly the best moderator so far. fichlt thanks. social media came alive tonight as well as the two candidates duke it out. twitter says the debate generated 3 and half million tweet. biden now you are jack kennedy line generated 58,000. the minute it was by far the most tweeted remark. over all though the debate didn't create as much traffic as the presidential one 10.3 million tweet. >> president obama and mitt romney meet in their second doe bait next tuesday in new york this one will be town hall meeting format. we'll carry it live starting at 6:00 p.m. >>> all right. you may know heart break in oakland tonight. unfortunately the a's incredible run in the play offs comes to an end. >> couldn't pull off a win in the game 5 of the series and larry is here now. >> kind of a bumper. especially after last n
. >> robbed reagan. >> now you are jack kennedy. >> ronald reagan. >> plenty of heat. biden showed more emotion tonight and personality but i think who you believe won the debate? probably depend on your political point of view unless you include abc martha. she was clearly the best moderator so far. fichlt thanks. social media came alive tonight as well as the two candidates duke it out. twitter says the debate generated 3 and half million tweet. biden now you are jack...
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they were collected by a man with a carpenter there for 33 years from trueman to ronald reagan. now that carpenter's grandson is selling about 1,000 hand me downs and they include trueman's lighter and kennedy jr.'s monogrammed baby pin. also a burnt wooden post from 114 when the british set fire to the -- 1814 when the british set fire to the white house. it was done during reconstruction. some of the starting bids were as high as $12,000. that's pretty cool. >>> all right we're going leave you now with live pictures near bald win hills the los angeles suburb where the endeavour is now -- running some three hours behind schedule. but a sight to behold and it's sort of the impromptu parade down in southern california where millions of people will be visiting it at the museum. do you think they could have navigated the streets of san francisco with us? >> what about almost bard? they removed trees. >> they did. they planted more in place of them. >> but they can't move the buildings. >> they can't. >> that's their challenge. >> all right. >> that's it for eyewitness news at 5:30.
they were collected by a man with a carpenter there for 33 years from trueman to ronald reagan. now that carpenter's grandson is selling about 1,000 hand me downs and they include trueman's lighter and kennedy jr.'s monogrammed baby pin. also a burnt wooden post from 114 when the british set fire to the -- 1814 when the british set fire to the white house. it was done during reconstruction. some of the starting bids were as high as $12,000. that's pretty cool. >>> all right we're going...
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. >> robbed reagan. >> now you are jack kennedy. >> ronald reagan. >> plenty of heat. biden showed more emotion tonight and personality but i think who you believe won the debate? probably depend on your political point of view unless you include abc martha. she was clearly the best moderator so far. fichlt thanks. social media came alive tonight as well as the two candidates duke it out. twitter says the debate generated 3 and half million tweet. biden now you are jack kennedy line generated 58,000. the minute it was by far the most tweeted remark. over all though the debate didn't create as much traffic as the presidential one 10.3 million tweet. >> president obama and mitt romney meet in their second doe bait next tuesday in new york this one will be town hall meeting format. we'll carry it live starting at 6:00 p.m. >>> all right. you may know heart break in oakland tonight. unfortunately the a's incredible run in the play offs comes to an end. >> couldn't pull off a win in the game 5 of the series and larry is here now. >> kind of a bumper. especially after last n
. >> robbed reagan. >> now you are jack kennedy. >> ronald reagan. >> plenty of heat. biden showed more emotion tonight and personality but i think who you believe won the debate? probably depend on your political point of view unless you include abc martha. she was clearly the best moderator so far. fichlt thanks. social media came alive tonight as well as the two candidates duke it out. twitter says the debate generated 3 and half million tweet. biden now you are jack...
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Oct 13, 2012
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. >>> it is a question posed by candidate ronald reagan. over three decades ago. >> are you better off than you were four years ago? >> and it's a message the candidates are still actually using today. >> the president has no record to run on. in fact, every president since the great depression who asked americans to send them into a second term could say that you are better off today than you were four years ago, except for jimmy carter and for president barack obama. >> if people think they're better off, i would say, well, take a look at the numbers when it comes to median household income, which is down every year for the last four years. >> the obama administration, however, is taking the other side. >> you want to know whether we're better off. i got a little bumper sticker for you. osama bin laden is dead and general motors is alive! >> bloomberg business week took a look at that very question in this week's election issue asking about the price of your food, the value of your home and your paycheck. staff writer took the question to
. >>> it is a question posed by candidate ronald reagan. over three decades ago. >> are you better off than you were four years ago? >> and it's a message the candidates are still actually using today. >> the president has no record to run on. in fact, every president since the great depression who asked americans to send them into a second term could say that you are better off today than you were four years ago, except for jimmy carter and for president barack...
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. >> robbed reagan. >> now you are jack kennedy. >>onald reagan. ronald reagan. >> plenty of heat. biden showedt and more emotion tonighd personality but i think who you believe won the debate? probably depend on your political point of view unless you include abc martha. she was clearly the best moderator so far. fichlt thanks. social media came alive tonight as well as the two candidates duke it out. twitter says the debate generated 3 and half million tweet. biden now you are jack kennedy line generated 58,000. the minute it was by far the most tweeted remark. over all though the debate didn't create as much traffic as the presidential one 10.3 million tweet. >> president obama and mitt romney meet in their second doe bait next tuesday in new york this one will be town hall meeting format. we'll carry it live starting at 6:00 p.m. >>> all right. you may know heart break in oakland tonight. unfortunately the a's incredible run in the play offs comes to an end. >> couldn't pull off a win in the game 5 of the series and larry is here now. >> kind of a bumper. especially after last
. >> robbed reagan. >> now you are jack kennedy. >>onald reagan. ronald reagan. >> plenty of heat. biden showedt and more emotion tonighd personality but i think who you believe won the debate? probably depend on your political point of view unless you include abc martha. she was clearly the best moderator so far. fichlt thanks. social media came alive tonight as well as the two candidates duke it out. twitter says the debate generated 3 and half million tweet. biden now...
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reagan in 1984. >> i did avoid, i'm afraid, in my previous answer also. >> reporter: president obama seemed to have initially thought all went well that night. >> this was a terrific debate. >> reporter: but quickly after he left the stage, he talked to aides and realized he had not brought his "a" game. "this is on me," he later told top advisers, and since then, he's been studying the video of that night with the goal of a more energetic and crisp performance. while the obama campaign dismisses it, other top democrats say pressure is now on vice president biden. a win by congressman paul ryan could create a dynamic of energized challengers squaring off against tired incumbents. and, diane, vice president biden is in debate prep holed off in a delaware hotel reading the book that ryan co-authored, "young guns" and practicing some of the attack lines the president did not use. there is more room for vice presidential candidates to use those attack lines because their approval ratings do not matter as much. diane? >> jake, as you said, the pressure really on, and governor romney tried
reagan in 1984. >> i did avoid, i'm afraid, in my previous answer also. >> reporter: president obama seemed to have initially thought all went well that night. >> this was a terrific debate. >> reporter: but quickly after he left the stage, he talked to aides and realized he had not brought his "a" game. "this is on me," he later told top advisers, and since then, he's been studying the video of that night with the goal of a more energetic and crisp...
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i was there with ronald reagan. he gave specifics in terms of tax expenditures. 97% of the small businesses make less than $250,000. hedge funds that make $600 million a year. let's look at how sincere they are. governor romney on "60 minutes," 10 days ago, was asked, you pay 14% on $20 million. someone making $50,000 pays more than that. do think that is fair? he said, yes, that is fair. you think these guys are going to cut those loopholes? the biggest loophole they take advantage of is that carried interest loophole and capital gains loophole. there is not enough -- the reason why the american enterprise institute study, the reason they all say it is going to go up for the middle class, the only way you can find $5 trillion in loopholes is cut the mortgage deduction for middle-class people. cut the health care deduction for middle-class people. that is why -- >> he is wrong about that. >> not mathematically possible. >> it has been done before. >> it has never been done before. >> it has been done a couple of tim
i was there with ronald reagan. he gave specifics in terms of tax expenditures. 97% of the small businesses make less than $250,000. hedge funds that make $600 million a year. let's look at how sincere they are. governor romney on "60 minutes," 10 days ago, was asked, you pay 14% on $20 million. someone making $50,000 pays more than that. do think that is fair? he said, yes, that is fair. you think these guys are going to cut those loopholes? the biggest loophole they take advantage...
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nixon was better in the second, gerald ford came back, ronald reagan came back after the disaster. and one assumes that president obama is doing the homework to make sure it happens. >> so johnathan, giving what larry describes here, does this mean the president has to come back and do just a solid debate performance or does he have to blow the socks off this one? >> just a solid performance. you know, he does have a lead, he lost, at most, two points. one to two points out of this last week, so he is going to be going in at this next debate, unless something else happens, which is not likely. you know, with a four-point lead, possibly. so if he can just deliver a solid performance, he will be fine. the danger for him is over compensating. so they talked about al gore, when he was sighing, and demeanor was not good, gore over-compensated again in the third debate, so that is something that people who have had a poor debate performance have to worry about. >> larry, i want to ask you about this very quickly, the next debate style will be town hall. we talked about how the president
nixon was better in the second, gerald ford came back, ronald reagan came back after the disaster. and one assumes that president obama is doing the homework to make sure it happens. >> so johnathan, giving what larry describes here, does this mean the president has to come back and do just a solid debate performance or does he have to blow the socks off this one? >> just a solid performance. you know, he does have a lead, he lost, at most, two points. one to two points out of this...
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. >> reporter: swept into congress under ronald reagan in 1980, but specter's views supporting immigration rights, abortion and gun control made him too liberal for the tea party movement. under assault, he bolted to the democratic party. >> my change in party will enable me to be re-elected. >> reporter: but specter lost. >> it's been a great privilege to serve the people of pennsylvania. >> reporter: he knew controversy well, at the warren commission, he wrote the single bullet theory that explained how lee oswald acting alone assassinated john f. kennedy. he angered many women after the spectacle around anita hill. but specter is also remembered for his wit and his devotion to the senate. >> i lead with great optimism for the future of our country, a great optimism for the continuing vital rule of the united states senate and the governance of our democracy. >> arlen specter was 82. >>> we turn now to that outbreak of meningitis cases tied to steroid injections from a pharmacy in massachusetts. today the cdc said the number of cases has risen to 205 in 14 states. all this is bringing ne
. >> reporter: swept into congress under ronald reagan in 1980, but specter's views supporting immigration rights, abortion and gun control made him too liberal for the tea party movement. under assault, he bolted to the democratic party. >> my change in party will enable me to be re-elected. >> reporter: but specter lost. >> it's been a great privilege to serve the people of pennsylvania. >> reporter: he knew controversy well, at the warren commission, he wrote...
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i was there with ronald reagan. he gave specifics in terms of tax expenditures. 97% of the small businesses pay less than -- make less than $250,000. adds funds -- hedge funds that makes $600 million a year. let's look at how sincere they are. governor romney, 10 days ago, was asked, you pay 14% on $20 million. someone making $50,000 paid more than that. do think that is fair? he said, yes, that is fair. you think these guys are going to cut those loopholes? the biggest loophole they take advantage is that carried interest loophole and capital gains loophole. there is not enough -- the reason why the study, the american enterprise institute study, the reason they all say it is going to go up for the middle class, the only way you can find $5 trillion and loopholes is cut the mortgage deduction for middle-class people. cut the health care deduction for middle-class people. that is why -- >> she is wrong about that. you can still preserve these -- he is wrong about that. >> not mathematically possible. >> it has been
i was there with ronald reagan. he gave specifics in terms of tax expenditures. 97% of the small businesses pay less than -- make less than $250,000. adds funds -- hedge funds that makes $600 million a year. let's look at how sincere they are. governor romney, 10 days ago, was asked, you pay 14% on $20 million. someone making $50,000 paid more than that. do think that is fair? he said, yes, that is fair. you think these guys are going to cut those loopholes? the biggest loophole they take...
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ronald reagan -- >> oh. now, you're jack kennedy. >> reporter: vice president joe biden and republican challenger, paul ryan, delivered stark difference on domestic and foreign policy. including how to fix the economy. >> we're going in the wrong direction. look at where we are. the economy is barely limping along. >> it shouldn't be surprising for a guy who says 47% of the american people are unwilling to take responsibility for their own lives. they pay more effective tax than governor romney pays in his federal income tax. >> reporter: ryan went after president obama for his response to the u.s. consulate attack in libya. >> it took the president two weeks to acknowledge that this was a terrorist attack. >> reporter: while biden challenged ryan's proposed changes to medicare. >> you are jeopardizing the program. you're changing the program from a guaranteed benefit. >> reporter: it was a more heated back and forth than the first presidential debate. and biden often laughed at ryan's arguments. >> joe bide
ronald reagan -- >> oh. now, you're jack kennedy. >> reporter: vice president joe biden and republican challenger, paul ryan, delivered stark difference on domestic and foreign policy. including how to fix the economy. >> we're going in the wrong direction. look at where we are. the economy is barely limping along. >> it shouldn't be surprising for a guy who says 47% of the american people are unwilling to take responsibility for their own lives. they pay more effective...
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. >> you know what tax revenue did under ronald reagan? it went up 100% even though they cut taxes dramatically. tax revenue doubled in eight years. don't forget, you can catch the vice presidential debate tomorrow night here on cnbc beginning at 7:00 p.m. eastern time. >> let's go to jackie deangelis with this market flash. >> good afternoon, guys. taking a look at shares of walmart. of course, it hit record highs earlier in the session. coming off just a little bit. despite the fact that earlier the cfo reiterated fiscal 2013 sales guidance, maybe investors were looking for him to boost that up. he did reduce cap ex spending for 2013. the new reach, 12 to $13 billion. that could have something to do with it as well. the stock still higher on the day. just a little bit of a selloff. bill. >> i think those costco numbers helped the retailers today as well. a lot of the big box retailers doing well today. we're headi ining toward the cl. about 25 minutes left. we're hovering near the lows of the session with the dow down more than 130 point
. >> you know what tax revenue did under ronald reagan? it went up 100% even though they cut taxes dramatically. tax revenue doubled in eight years. don't forget, you can catch the vice presidential debate tomorrow night here on cnbc beginning at 7:00 p.m. eastern time. >> let's go to jackie deangelis with this market flash. >> good afternoon, guys. taking a look at shares of walmart. of course, it hit record highs earlier in the session. coming off just a little bit. despite...
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>> look at what ronald reagan and tip o'neill did. they worked together out of a framework to lower tax rates and broaden the base and worked together to fix that. what we're saying is, here's our framework. lower tax rates 20%. we raise about $1.2 trillion through income taxes. we forego about $1.1 trillion in loopholes and deductions. so what we're saying is, deny those loopholes and deductions to higher income taxpayers so more of their income is taxed which has a broader base of taxation. >> can i translate? >> so we can lower tax rates across the board. here's why i'm saying this. what we're saying -- >> i hope i'm going to get time to respond to this. >> you'll get time. >> we want to work with the congress on how best to achieve this. that means successful. >> no specifics -- >> what we're saying is lower tax rates 20%. start with the wealthy, work with congress to do it. >> you guarantee this math will add up? >> absolutely. six studies guaranteed, verified this math adds up. >> vice president biden? >> let me translate. let m
>> look at what ronald reagan and tip o'neill did. they worked together out of a framework to lower tax rates and broaden the base and worked together to fix that. what we're saying is, here's our framework. lower tax rates 20%. we raise about $1.2 trillion through income taxes. we forego about $1.1 trillion in loopholes and deductions. so what we're saying is, deny those loopholes and deductions to higher income taxpayers so more of their income is taxed which has a broader base of...
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he was channeling ronald reagan. he was making a speech that talked about not just with pretty words but with policies, where he understands america can use the economic power to influence events and help shape world events, use our economic power in the sense of phone aid, if we get it, we want something back. but he talked about american military, he talked about, for example, putting aircraft carrier groups and men in the gulf, using economic warfare against iran using sanctions, tightening the sanctions and he realizes like reagan, that the notion of peace through strength is not just a throw away line but have a strong military so you never have to use it because no one picks a fight with you. >>eric: let me give you another soundbite talking about cutting off aid to egypt if we need to. that was in the introduction, sorry. we also have one where he talked about potentially how we should deal with libya. are you satisfied with what you heard? >>guest: what he has talked about doing is understanding events have h
he was channeling ronald reagan. he was making a speech that talked about not just with pretty words but with policies, where he understands america can use the economic power to influence events and help shape world events, use our economic power in the sense of phone aid, if we get it, we want something back. but he talked about american military, he talked about, for example, putting aircraft carrier groups and men in the gulf, using economic warfare against iran using sanctions, tightening...
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Oct 9, 2012
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the reality is no, he's not ronald reagan. ronald reagan had core values. you saw those in the debates. you saw that in his life. i don't think barack obama has core values at all. he listens to whoever is talking to him and espouses the talking points. is barack obama ronald reagan? i know ronald reagan. he was my father and friend. barack is no ronald reagan thank god. megyn: we had scott on a couple weeks ago when he was one of the lone pollsters showing this a tight race. whenever that seems to happen, scott, they seem to take shots at you as somebody who is not reliable and does haven't good polls. even though -- even though now all these polls are showing what you are showing -- the republicans put out today a list of the polls that show this race tightening and it's across the pollsters showing this race tightening in all the states you mention. despite here, here is what chuck todd said about you. >> we spent a lot more money polling than scott rasmussen does. >> he was right the last couple elections. >> he got it right at the end. you guys used th
the reality is no, he's not ronald reagan. ronald reagan had core values. you saw those in the debates. you saw that in his life. i don't think barack obama has core values at all. he listens to whoever is talking to him and espouses the talking points. is barack obama ronald reagan? i know ronald reagan. he was my father and friend. barack is no ronald reagan thank god. megyn: we had scott on a couple weeks ago when he was one of the lone pollsters showing this a tight race. whenever that...
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employed during harry truman's administration to ronald reagan's. collecting memorabilia that offers a three-dimensional timeline of the presidential families. truman's lighter, jfk's monogrammed baby pen. even a burnt wooden post from 1814 when the british set fire to the white house which arrington found at work during the truman reconstruction. >> found a table in the carpenter shop. >> reporter: he helped with the kennedy renovation and collected items from the first lady herself including a handwritten thank you note after the death of her son patrick. >> real people with real lives and a lot of this collection demonstrates that fact. >> i'm sure when he was collecting them he never thought they would be of great value but today we live in history. >> reporter: 1,000 things that arrington saved will be auctioned off today starting from $25 to $12,000. just like presidential life, the collection is bittersweet. wedding and inauguration announcements, memories of an assassination and a funeral. >> when i dug down the bottom of the box i found the
employed during harry truman's administration to ronald reagan's. collecting memorabilia that offers a three-dimensional timeline of the presidential families. truman's lighter, jfk's monogrammed baby pen. even a burnt wooden post from 1814 when the british set fire to the white house which arrington found at work during the truman reconstruction. >> found a table in the carpenter shop. >> reporter: he helped with the kennedy renovation and collected items from the first lady...
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this is looking very much like 1984 and ronald reagan. unemployment down, people back to work. melissa: thanks for coming on the show. we appreciate your time. >> my pleasure. melissa: so there is big divide in the jobs data today, as we're discussing household survey shows total employment surged 873,000, but payroll says only 114,000 people went back to work. even jack welch said it, hard to reconcile these numbers. he tweeted, unbelievable jobs numbers. these chicago guys will do anything. can't debate so they change the numbers. that is harsh criticism. here with me is economist peter morici. which also have gary burtless, senior fellow? [no audio. what do you think. what a difference between the two surveys. peter, start with you. >> the bls is not cooking the numbers. i believe that. they don't do such a thing. there a anomalies. household survey counts self-employed people. a lot of people established home based business. they have been dissipating savings. that doesn't mean they're fully employed. to have 800,000 jobs created that would be 6% gain in employment in one m
this is looking very much like 1984 and ronald reagan. unemployment down, people back to work. melissa: thanks for coming on the show. we appreciate your time. >> my pleasure. melissa: so there is big divide in the jobs data today, as we're discussing household survey shows total employment surged 873,000, but payroll says only 114,000 people went back to work. even jack welch said it, hard to reconcile these numbers. he tweeted, unbelievable jobs numbers. these chicago guys will do...
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. >> ronald reagan -- >> they delivered stark differences on domestic and foreign policy, including how to fix the economy. >> we are going in the wrong direction. the economy is barely limping along. >> that is surprising for a guy who says 47% of the american people are not willing to take responsibility for their own lives. they pay more effective tax and governor romney pays in his federal income-tax. >> mitt romneypaul ryan went after. after >> it took the president two weeks to acknowledge this was a terrorist attacks. >> you are jeopardized and medicare and changing it from a guaranteed benefit. >> it was heated. joe biden often laughed at all right in opposing arguments. >> joe biden understood denied he had to do what president obama failed to do last week's. >> both president obama and mitt romney watched closely. >> i thought joe biden was terrific tonight. i cannot be prouder. >> and running mates even shared a few laughs. >> i think the vice president knows that sometimes the words don't come out of your mouth of the right way. [laughter] >> but i always say what i mean. >>
. >> ronald reagan -- >> they delivered stark differences on domestic and foreign policy, including how to fix the economy. >> we are going in the wrong direction. the economy is barely limping along. >> that is surprising for a guy who says 47% of the american people are not willing to take responsibility for their own lives. they pay more effective tax and governor romney pays in his federal income-tax. >> mitt romneypaul ryan went after. after >> it took...
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>> ronald reagan. >> now you're jack kennedy? >> and tax cuts and auto bailout and those are big issues that got really heated between joe biden and paul ryan at last night's vice presidential debate so i immediately thoughthe person i would have to call on this to fact check it would be christine romans and she was available. thank you. so here's the deal. it just stands to reason that they both seem to say something with such confirmation in their voices and it's hard to say how this can be different. >> it's politics, my friend. talk taxes because i keep hearing this 20% across the board tax cut and then i hear the counterclaim, you can't pay for that. the math doesn't work. >> you can't make the math work. >> we have looked into this and the tax policy center says you can't make the math work. paul ryan's claim that you can cut it 20% across the board and keep it intact all of the while keeping it neutral and it says given the information available that we have about their plans is just not possible to cut that tax as much as
>> ronald reagan. >> now you're jack kennedy? >> and tax cuts and auto bailout and those are big issues that got really heated between joe biden and paul ryan at last night's vice presidential debate so i immediately thoughthe person i would have to call on this to fact check it would be christine romans and she was available. thank you. so here's the deal. it just stands to reason that they both seem to say something with such confirmation in their voices and it's hard to say...
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. >> look at what ronald reagan and tip o'neill did. they worked together to broaden the base and lower tax rates. what we're saying is, here is our frame work. lower taxes 20%. 1.1 million in loopholes and deductions. deny those loopholes and deductions to higher-income taxpayers so more income is taxed, which has a broader base of taxation. and here is why i'm saying this. what we're saying -- >> i hope i get time to respond to this? >> you will get time. >> we want to work with congress, that means specifically. >> no specific. >> what we're saying is lower tax rates 20%. >> and you guarantee this math will add up. >> six studies have guaranteed and said this math adds up. >> let me translate. >> i'll come back in a second, right? >> i was there when ronald reagan you gave tax rates, he gave specifics of what he would cut in terms of taxan expenditures. 90% of small businesses in america make less than 250,000. let me tell you who other small businesses are. hedge funds, that make $600, $800 million a year. that will count as small b
. >> look at what ronald reagan and tip o'neill did. they worked together to broaden the base and lower tax rates. what we're saying is, here is our frame work. lower taxes 20%. 1.1 million in loopholes and deductions. deny those loopholes and deductions to higher-income taxpayers so more income is taxed, which has a broader base of taxation. and here is why i'm saying this. what we're saying -- >> i hope i get time to respond to this? >> you will get time. >> we want to...
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>> look at what -- look at what ronald reagan and tip o'neill did. they worked together out of a frame work to lower tax rates and broaden the base and fix na. we are saying, here's our frame work, lower tax rates 20%. we raised $1.2 trillion in income taxes and forego $1.1 trillion in loophole deductions. we are saying, deny the loopholes and deductions to higher-income taxpayers, so more of their income is taxed -- >> can i translate? >> to lower the tax rates across the board. what we are saying -- >> i hope i get time to respond-- >>> you will get time. >> we want to work with congress on how best to achieve this. >> martha: no specifics? >> lower tax rates 20%, start with the wealthy. work with congress to do it? >> martha: you guarantee this math will add up. >> six studies have guaranteed and verified. >> martha: vice-president -- [overlapping dialogue] >> let me translate. let me have a chance to translate. >> first of all, i was there when ronald reagan tax rates and he gave specifics of what he was going to cut, number 1 nterms of tax expen
>> look at what -- look at what ronald reagan and tip o'neill did. they worked together out of a frame work to lower tax rates and broaden the base and fix na. we are saying, here's our frame work, lower tax rates 20%. we raised $1.2 trillion in income taxes and forego $1.1 trillion in loophole deductions. we are saying, deny the loopholes and deductions to higher-income taxpayers, so more of their income is taxed -- >> can i translate? >> to lower the tax rates across the...
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. >> jack kennedy-- ronald reagan. >> oh, now you're jack kennedy. >> and he got it wrong. george w. bush lowered rates and when they did the treasury went up. and the other hot topic was libya. >> this benghazi issue would have been a tragedy in and of itself, unfortunately it's indicative of a broader problem. what we're watching on our tv screens is the unravelling of the obama foreign policy which is making the war more chaotic and us less safe. >> joe biden says the administration did not know about the request for more security in libya, but a day earlier the state department official in sworn statement said more security had been requested and denied. and when asked about it, president obama said, quote, i didn -- and after that, said i didn't catch that exchange. and the opening bell on wall street. here we go. >> stocks will open pretty flat this morning, a day after the debate. we've got one news item, a number from the government in the background here, it's the producer price index up. 1.1%, month over month and that's a big increase, however, if you take out fo
. >> jack kennedy-- ronald reagan. >> oh, now you're jack kennedy. >> and he got it wrong. george w. bush lowered rates and when they did the treasury went up. and the other hot topic was libya. >> this benghazi issue would have been a tragedy in and of itself, unfortunately it's indicative of a broader problem. what we're watching on our tv screens is the unravelling of the obama foreign policy which is making the war more chaotic and us less safe. >> joe biden...
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. >> first of all, i was there when ronald reagan gave specifics to what he was going to cut in terms of tax expenditures. 97% of small-business americans paid -- make less than $250,000. amid tell you who some of the other small businesses are. hedge funds that make a hundred million dollars a year. that is what they call as small business. gov. romney on 60 minutes about 10 days ago was asked, you pay 14% on $20 million. somebody making $50,000 face more than that. he said that is fair. that is fair. do you think these guys are going to go out there and cut the loopholes? the biggest loophole they take advantage of is the carriage entrance loophole and the capital gains loophole. the reason that the american enterprise study, the tax policy center study all say taxes will go up on the middle-class is it is the only way you can find at $5 trillion and loopholes as to cut the mortgage deduction for middle-class people, take away their ability to get a tax break to send their kids to college. >> is he wrong about that? >> he is wrong about that. and cut tax rates by 20% and still prese
. >> first of all, i was there when ronald reagan gave specifics to what he was going to cut in terms of tax expenditures. 97% of small-business americans paid -- make less than $250,000. amid tell you who some of the other small businesses are. hedge funds that make a hundred million dollars a year. that is what they call as small business. gov. romney on 60 minutes about 10 days ago was asked, you pay 14% on $20 million. somebody making $50,000 face more than that. he said that is fair....
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i was there when ronald reagan -- to give specifics of what he was going to cut. in terms of -- he gave specifics in what he was going to cut. 90% of american businesses make less than 2 luckett $50,000. that counts as businesses. governor romney 10 days ago was asked, you pay 40% on $20 million. some are making $50,000 and paid more than that. do you think that is fair and he said that is fair. you think these guys are going to go out there and cut those loopholes? the loopholes, the biggest loophole that take advantage of is the interest loophole and capital gains loophole. the extent that. there's not enough -- the reason why the aei study, the tax policy center study, the reason they say it will -- taxes will go up on the middle class, the only way you can 5 -- fined $5 trillion is cut the local production. cut the health care deduction, take away their ability to take a tax break to send their kids to college. >> he is wrong about that. you can cut tax rates by 20% and still preserve these preferences for middle-class taxpayers. >> not mathematically possible
i was there when ronald reagan -- to give specifics of what he was going to cut. in terms of -- he gave specifics in what he was going to cut. 90% of american businesses make less than 2 luckett $50,000. that counts as businesses. governor romney 10 days ago was asked, you pay 40% on $20 million. some are making $50,000 and paid more than that. do you think that is fair and he said that is fair. you think these guys are going to go out there and cut those loopholes? the loopholes, the biggest...
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. >> jack kennedy, ronald reagan. >> now you are jack kennedy. [ laughter ] >> as for which candidate won the debate it seems to be a tossup with some polls giving a slight advantage to ryan. others to biden. >>> here in the bay area they held watch parties. >> ryan is staying on target. he is staying with the facts. biden is going after him. interruptions. not making himself clear. >> the president is an excellent president. he is a decent man. sometimes too decent. joe biden is showing you have to stay with the facts. >> those people obviously thought joe biden dominated the debate. republicans thought paul ryan came out ahead. no surprise there. we have posted more video of last nights debate just look for world and u.s. news tab. >>> another debate is making headlines but for very different reasons. youtube video shows two southern california lawmakers almost getting in a fight. coming up at 5:45 what was behind this heated exchange. >>> happening right now the space shuttle endeavour is on the move. it's headed from lax to its permanent home at the california science center near
. >> jack kennedy, ronald reagan. >> now you are jack kennedy. [ laughter ] >> as for which candidate won the debate it seems to be a tossup with some polls giving a slight advantage to ryan. others to biden. >>> here in the bay area they held watch parties. >> ryan is staying on target. he is staying with the facts. biden is going after him. interruptions. not making himself clear. >> the president is an excellent president. he is a decent man. sometimes...